People Moves: $28B Prospera Taps CIO From Within
In addition, KeyBank bolsters family office and private capital client offerings with a five-person team, and $83 billion asset manager American Beacon names new investment product head.
In the newly created role, Keeton will oversee and lead Prospera’s investment services, including alternatives, fixed-income and annuity offerings, as well as the RIA’s proprietary research.
“Paul has played a key role in shaping our product platform and advisory offerings, and I'm confident in his expanded leadership as chief investment officer,” President and COO Tarah Williams said in a statement.
Keeton joined Prospera in 2017 after 20 years at Dorsey, Wright & Associates, where he started as an analyst and departed as a senior vice president. In that time, he led the development of investment solutions, including guided models, exchange-traded funds, structured products and managed account strategies.
KeyBank Adds Five-Person Family Office Bank Team
KeyBank, a Cleveland-based regional bank and wealth advisory , has added a five-person family office and private capital team to expand its middle market client offerings.
The new division is led by Ward Nixon, who joins as commercial leader based in KeyBank’s Overland Park, Kan., office, and brings experience in banking and leveraged finance, with a specialization in family office and private equity sponsor finance.
KeyBank made the move to bolster its work with family offices and private equity investors as it sees these players increasingly driving “ownership, capital deployment and strategic decision-making,” according to an announcement.
“We’re making a deliberate investment in the middle market by building capabilities that reflect how our clients actually operate,” Ken Gavrity, president of Key Commercial Bank, said in a statement. “Family offices are increasingly influential capital providers and owners—they require sophisticated banking relationships that integrate capital markets, commercial banking and wealth advisory.”
The group will provide services including direct investment and sponsor relationships, portfolio company banking and wealth management for principals and families.
Nixon reports to Chris Doyle, head of private capital strategy for Key Commercial Bank.
Asset Manager American Beacon Names New Product Head
American Beacon Partners, an Irving, Texas-based asset manager with $83 billion in AUM across its affiliated partners, has hired Tim McGeeney to be head of investment product development.
McGeeney joins from his most recent role as a financial advisor and investment research analyst with Brogan Financial. Prior to that role, he’d had a stint with Morgan Stanley after more than 20 years with Meyer Capital Group, where he had overseen $1.6 billion in AUM and worked with high-net-worth and institutional investors.
American Beacon has over 30 affiliated and independent manager partnerships offering both traditional and alternative investment options.
“ With Tim’s extensive experience in the wealth management space, he understands what advisors are looking for and the challenges they face today,” Greg Stumm, president and CEO of American Beacon Partners, said in a statement. “He is well-positioned to lead our product development efforts, and as we continue to expand our investment offerings, Tim will play a critical role in ensuring our product lineup remains innovative, differentiated, and built for today’s modern markets.”
McGeeney will remain based in Knoxville, Tenn.
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